- NZD/USD stays well bid as strong NZ jobs report supersedes RBNZ’s cautious optimism.
- MACD teases bears below weekly falling trend line but 50-day SMA, monthly support line keeps bears away.
NZD/USD pokes intraday high during the latest run-up to 0.7170, up 0.37% on a day, amid early Wednesday.
The kiwi pair earlier jumped over 20 pips following the strong beat of the first quarter (Q1) employment figures from New Zealand. It’s worth mentioning that the Reserve Bank of New Zealand’s (RBNZ) bi-annual Financial Stability Review (FSR) struck mixed comments but were mostly ignored by the NZD/USD traders.
That said, the pair’s successful bounce off the 50-day SMA and one-month-old support line battles a short-term resistance amid recently bearish MACD signals.
Hence, an area between 0.7185 and 0.7120, comprising a nearby resistance line and a bit longer support trend line respectively, could keep teasing NZD/USD traders.
Inside the area, buyers can stay hopeful until the quote remains above the 50-day SMA level of 0.7140.
It should, however, be noted that a clear upside break of 0.7185–20 region will challenge April top around 0.7290 whereas a downside trading below 0.7120 could recall a support area surrounding 0.7070.
NZD/USD four-hour chart
Additional important levels
|Today last price||0.7172|
|Today Daily Change||27 pips|
|Today Daily Change %||0.38%|
|Today daily open||0.7145|
|Previous Daily High||0.7208|
|Previous Daily Low||0.7115|
|Previous Weekly High||0.7287|
|Previous Weekly Low||0.715|
|Previous Monthly High||0.7287|
|Previous Monthly Low||0.6945|
|Daily Fibonacci 38.2%||0.7151|
|Daily Fibonacci 61.8%||0.7173|
|Daily Pivot Point S1||0.7104|
|Daily Pivot Point S2||0.7063|
|Daily Pivot Point S3||0.701|
|Daily Pivot Point R1||0.7197|
|Daily Pivot Point R2||0.725|
|Daily Pivot Point R3||0.7291|
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